First Read Hits & Takes JLN Staff Electronic Interest Rate options ADV reached a record 1.43 million in January, including a single-day record on January 18th in which 1.3 million Eurodollar options traded on CME Globex, surpassing the daily pit volume.~JJL SGX FX futures volume hit a new record of $65 billion in January with ADV of $3 billion.~JK In light of all the VIX ETP drama, which was covered in yesterday’s Options newsletter, check out our blog post Vol-cano Erupts – How’s Seth Golden Doing? It was a response to the seeming surprise amongst pundits about how volatility products…

Lead Stories IMF warns volatility products loom as next big market shock Miles Johnson – Financial Times The International Monetary Fund has warned that the increasing use of exotic financial products tied to equity volatility by investors such as pension funds is creating unknown risks that could result in a severe shock to financial markets. on.ft.com/2A0vA8b Sports Gambling Is Quant Trading Firm’s Way to Beat Market Odds Kit Chellel and Annie Massa – Bloomberg Susquehanna will wager on football, basketball from Dublin; Firm’s founder Yass is a poker whizz who deploys statistics Susquehanna International Group has always embraced game theory,…